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Foreign remittances see 35 percent drop

Arab News JEDDAH: The remittances sent by foreigners to their families fell by 35 percent or SR5.5 billion during July, down from SR15.8 billion in June to SR10.3 billion in July. July marked the lowest volume of remittances in 41 months since February 2013. According to data released by the Saudi Arabian Monetary Agency (SAMA), foreign remittances this July fell 19 percent compared to July of 2015, the equivalent of SR2.4 billion. As for transfers

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